Retirement plan

BALBOA TRAVEL, INC. PROFIT SHARING AND 401K PLAN

Name: BALBOA TRAVEL, INC. - BALBOA TRAVEL, INC. PROFIT SHARING AND 401K PLAN (2024) Form 5500
Creator: BALBOA TRAVEL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BALBOA TRAVEL, INC. PROFIT SHARING AND 401K PLAN, BALBOA TRAVEL, INC.

BALBOA TRAVEL, INC.EIN 95-2592646Plan #002PY 2024

5414 OBERLIN DRIVE - SAN DIEGO, CA 921214752858-678-3302balboa.comLinkedIn51-200 employeesleisure, travel & tourism

Prospect flagsHigh feesFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$16.2M

+0.5% from 2023

Total participants

150

-8.5% from 2023

Average account balance

$107,974

+7.2% from 2023

Annual return

14.04%

-1.75 pp from 2023

Benchmarks

See 1,427 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants100-249

Cohort1,427 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$16.20M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$108K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

150

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$576K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+14.04%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$386

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
FIRST LIGHT RETIREMENT LLC3 years Filed as: FIRST LIGHT RETIREMENT, LLC Service code 27 · EIN 86-3483132 1330 CAMINO DEL MAR · DEL MAR, CA 92014	Advisory (Plan)	$23,969
THE VANGUARD GROUP, INC.4 years Filed as: THE VANGUARD GROUP Service code 37 · EIN 23-1945930	Loan Processing	$18,458
MATRANGA & COMPANY5 years Service code 10 · EIN 20-1147648	Accounting	$9,000
SAN DIEGO PENSION CONSULTANTS5 years Service code 14 · EIN 33-0461574	Plan Administrator	$6,538
ASCENSUS LLC4 years Filed as: ASCENSUS Service code 37 · EIN 11-3665754	Loan Processing	$447

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$58K

$568 / participant

Recordkeeping$7K11.3%
Investment mgmt$24K41.4%
Contract admin$18K30.5%
Other / not subdivided$10K16.8%

% of EOY assets

0.358%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: MATRANGA & COMPANY
Auditor EIN: 201147648
Audit fees: $9,000
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$107,974

$44,960+140.2%

$84,966+27.1%

$74,495+44.9%

Participation rate

100.0%

49.4%+50.6pp

67.5%+32.5pp

67.2%+32.8pp

Annual return

14.04%

26.24%-12.2pp

66.38%-52.3pp

1364.94%-1350.9pp

Employer contribution / active EE

$1,961

$1,457+34.6%

$2,727-28.1%

$2,623-25.2%

Participant deferral / active EE

$3,688

$2,731+35.1%

$4,519-18.4%

$4,346-15.1%

Admin fee / account holder

$386

$2,209-82.5%

$6,149-93.7%

$1,942-80.1%

Provider

Service type

Compensation

FIRST LIGHT RETIREMENT LLC3 years

Filed as: FIRST LIGHT RETIREMENT, LLC

Service code 27 · EIN 86-3483132

1330 CAMINO DEL MAR · DEL MAR, CA 92014

Advisory (Plan)

$23,969

THE VANGUARD GROUP, INC.4 years

Filed as: THE VANGUARD GROUP

Service code 37 · EIN 23-1945930

Loan Processing

$18,458

MATRANGA & COMPANY5 years

Service code 10 · EIN 20-1147648

Accounting

$9,000

SAN DIEGO PENSION CONSULTANTS5 years

Service code 14 · EIN 33-0461574

Plan Administrator

$6,538

ASCENSUS LLC4 years

Filed as: ASCENSUS

Service code 37 · EIN 11-3665754

Loan Processing

$447

BALBOA TRAVEL, INC. PROFIT SHARING AND 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BALBOA TRAVEL, INC. PROFIT SHARING AND 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion